Textual Amendments
F1Sch. 1 repealed (1.10.2001) by 2000 c. 27, s. 108, Sch. 8; S.I. 2001/3266, art. 2, Sch. (subject to transitional provisions in arts. 3-20)
Textual Amendments
F2Sch. 2A inserted (20.5.2009) by Energy Act 2008 (c. 32), ss. 44(4), 110(2), Sch. 2; S.I. 2009/1270, art. 2
2(1)A property scheme may also contain—U.K.
(a)provision for the creation, in relation to property which the scheme transfers, of an interest in or right over the property in favour of the asset owner;
(b)provision for the creation of any rights or liabilities as between the asset owner and the successful bidder;
(c)provision for imposing on the asset owner or the successful bidder an obligation to enter into a written agreement with, or to execute an instrument of another kind in favour of, the other;
(d)provision requiring the successful bidder to pay the asset owner compensation;
(e)provision requiring the asset owner to pay the successful bidder compensation;
(f)supplemental, incidental and consequential provision.
(2)The property, rights and liabilities which may be transferred by a property scheme include property, rights or liabilities which would not otherwise be capable of being transferred.
(3)If a property scheme provides for the division of an estate or interest in land and any rent is—
(a)payable in respect of the estate or interest under a lease, or
(b)charged on the estate or interest,
the scheme may contain provision for apportionment or division so that one part is payable in respect of, or charged on, only one part of the estate or interest and the other part is payable in respect of, or charged on, only the other part of the estate or interest.
(4)A property scheme which contains provision which affects a third party may also contain provision requiring the successful bidder or the asset owner to pay the third party compensation.
[F3(5)A property scheme may not contain provision for the transfer of, or creation of rights in relation to, property, rights or liabilities that the Authority considers it appropriate for the successful bidder to acquire by other means.]]
Textual Amendments
F3Sch. 2A para. 2(5) inserted (26.10.2023) by Energy Act 2023 (c. 52), s. 334(2)(i), Sch. 15 para. 12